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Question - On July 1, 2016, Alpha Company purchased for $76,000, equipment having a service life of eight years and an estimated residual value of $4,000. Alpha has recorded depreciation of the equipment using the double-declining balance method. On December 31, 2018, before making any annual adjusting entries, the equipment was exchanged for new machinery having a fair value of $35,000. The transaction has commercial substance. Use this information to make General Journal entries (without explanation) required to record the events for December 31, 2018.
The company uses the 'effective interest' method to account for bond interest. Prepare the entry to record the sale of the bond on January 1, 2020
What caused the change in Cisco's comprehensive income in fiscal year 2009? What was the amount of Accumulated other comprehensive income (loss) that Cisco reported in its July 28, 2009 balance sheet? Be specific.
An explanation of a threat to internal validity and threat to external validity in quantitative research. Explain a strategy to mitigate each of these threats.
an tax accountant is examining his productivity. in 1996 he did 300 tax returns in 1400 hours. in 1997 he did 250 tax
During the year, Lauer sold 825 laptop computers. What was cost of goods sold using the LIFO cost flow assumption
Determine and prepare the cost per equivalent unit of direct material, the cost per equivalent unit of conversion for the month of March
The variable cost per gift basket is $2, fixed costs are $5,000 per month, and the selling price of a basket is $7. How many baskets must be produced and sold
hults corporation has provided data concerning the companys manufacturing overhead account for the month of november.
Kusmaul Electric sold $500,000, 10%, 10-year bonds on January 1, 2010. The bonds were dated January 1 and paid interest on January 1 and July 1.The bonds were sold at 104.
It budgets for 60,000 pumpkin scones. Actual output was 60,800 pumpkin scones. Compute the flexible-budget variance
What is the budgeted manufacturing overhead cost per output unit in January 2018? Calculate the cost of a snowboard manufactured in January 2018.
Conwell Corporation began operations on January 1, 2007, as an online retailer of computer software and hardware. The following financial statement data.
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